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TOTD: Black Swan Risk

I’ll  take this Black Swan. When your SPY short is looking good then fake trade war headlines hit pic.twitter.com/FV9TuYz7TX — Hipster (@Hipster ...


Snakes in Suits and Their Enablers - The Love of Most Will Grow Cold

"A confident, aggressive delivery style - often larded with jargon, clichés, and flowery phrases - makes up for the lack of substance and sincerit ...


Functional Finance, MMT and Blanchard's Presidential Address

So Olivier Blanchard gave the AEA presidential address at the Atlanta meetings earlier this year. If you missed it you can watch it here. The pape ...


A global macroeconomics – yes, macroeconomics, dammit – of inequality and income distribution

Below the text of the first Godley-Tobin Lecture by James K. Galbraith.According to an approximate count, there are 848 sub-categories in the clas ...


Canada’s Majestic Housing Bubble Deflates, Media Hype U-Turns

Average home price fell for first time since 2008, largest decline in the data going back to 2001.


The Silence on Wall Street’s Dark Pools Is Deafening

The Silence on Wall Street’s Dark Pools Is Deafening By Pam Martens: January 21, 2019 ~ It is destined to go down as one of the greatest journalis ...


Rare Yglesias Google Fail

(Dan here…lifted from Robert’s Stochastic Thoughts) Rare Yglesias Google Fail (Most boring title after “Worthwhile Canadian Initiative” but I coul ...


A viral ad

(Dan here…lifted from Robert’s Stochastic Thoughts) A viral ad This ad is clearly designed to go viral also I enjoyed it, so I want to reward them ...


Some Economics for Martin Luther King Day

On November 2, 1983, President Ronald Reagan signed a law establishing a federal holiday for the birthday of Martin Luther King Jr., to be celebra ...


IMF Downgrades Eurozone Growth To 1.6% (Global Forecast At 3-Year Low)

The International Monetary Fund (IMF) has downgraded economic growth for the Eurozone to 1.6 for 2019. weoupdatejan2019.  But Japan is even worse ...


Existing Home Sales for December: Take the Under

The NAR is scheduled to release Existing Home Sales for December at 10:00 AM on Tuesday, January 22nd.The consensus is for 5.24 million SAAR, down ...


Long Weekend Links

Modern Monetary Theory is the theoretical justification for the economic policies of every potential Democratic presidential candidate in 2020. Be ...


Kamala Harris Is Running For President

Kamala Harris has joined Elizabeth Warren and Kirsten Gillibrand in officially declaring her intention to seek the 2020 Democratic nomination, lau ...


Davos Man—Endangered Specie


Chinese economic growth looks set to slow further in 2019

This morning brings us up to date on what has been a theme for a little while now as we have observed one of the main engines of world economic gr ...


Healthcare News

Massachusetts ACA Enrollment Exceeds Last Year, Charles Gaba, ACA Signups Blog Massachusetts: (January 14, 2018) saw an increased 285,000 signups ...


MMT’s Opening

By J.D. ALT I recently read in the WSJ that Modern Monetary Theory is defined as the proposition that the federal government can borrow as much mo ...


Song For The Week: Balls To The Wall

I won’t back downHey Nancy, balls to the Wall, no easy way outI won’t back downHey Rush I will stand my groundAnd I won’t back down   SFTW – Song ...


Notes From Underground: Let’s Not Mince Words, Pepper Spray Davos

Let me begin by reiterating that this is NOT a political blog but a place for the exchange of ideas dedicated to those who desire to improve tradi ...


Student Debt Is a Driver of Low Millennial Homeownership (Combined With Declining Middle Class Wealth)

American homeownership has been on the decline (for millenials), and Federal Reserve researchers point to the high cost of college as one culprit. ...


Head fake?

It’s been a choppy start to the year, but last week’s price action added to the evidence that the bulls have regained control, at least temporaril ...


A different kind of America First

Preface: Explaining our market timing modelsWe maintain several market timing models, each with differing time horizons. The "Ultimate Market Timi ...


How to Be Memorable

My wife and I attended a wine tasting party a few weeks ago at a friend’s house (21-year-old me can’t believe 37-year-old me just typed that but h ...


Brexit’s Ironic Twists Hit Spain’s Biggest Industry

"Peak Tourism" has already set in. Brits account for 22% of tourists in Spain. Now add Brexit.


Beyond probabilism

“Getting philosophical” is not about articulating rarified concepts divorced from statistical practice. It is to provide tools to avoid obfuscating ...


Finland’s Universal Basic Income experiment — an evaluation

  Results on the first year of the Finnish UBI experiment will become available in a couple of months, and a final report — covering the whole two ...


Freiheit ist immer Freiheit der Andersdenkenden

Rosa Luxemburg (1871-1919)


DiEM25 & the EUROPEAN SPRING event on austerity, xenophobia, the euro and the environment – Wed 24/1, Berlin

With xenophobic and authoritarian forces rising across the EU, societies in stagnation  levels, and climate catastrophe on the horizon, it’s ...


Yellow Vests Battle Tear Gas And Aggressive Riot Cops During 10th Week Of Chaotic Protests

Despite freezing temperatures and rain, tens of thousands of Yellow Vest protesters took to streets across France on Saturday for a tenth consecut ...


Bottom Falls Out of Demand in China in Many Sectors

“What we witnessed in November and December was just extraordinary.” “I’ve been a manager for almost half a century, but this is the first time I’ ...


Bubble Finance In One Picture: Every Declining Income Growth, Ever Rising Wealth!


Knut Wicksell — le origini della Teoria Monetaria Moderna

Molti economisti mainstream sembrano pensare che l’idea alla base della Teoria Monetaria Moderna sia nuova e nasca da strane idee economiche. Nuov ...


Indy Voices post on Corbyn’s Brexit talks conditions

Link here.


Elsewhere: Popular Writing On Modern Monetary Theory

Some articles: Josh Barro, in New York Magazine.Noah Smith, in Bloomberg.Linette Lopez, in Business Insider.Michael Strain, also in Bloomberg.I do ...


Round pegs, round holes

An anonymous MP who met Theresa May to discuss the EU expressed their surprise at the fact that she read from a script. To this Nick Boles replied ...